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Shift at Google means $1.25 million for former CEO

SAN FRANCISCO – Former Google CEO Eric Schmidt’s annual salary jumped from a dollar to $1.25 million on April 4 when he turned the CEO job over to co-founder Larry Page.

Schmidt is now focusing on acquisitions and government relations as Google’s executive chairman.

The revised compensation package, filed with federal regulators Tuesday, will pay Schmidt an annual bonus of up to $6 million.

Schmidt has an estimated net worth of $7 billion.

Associated Press